Preface | p. xviii |
Overview of Strategic Management | p. 2 |
The Nature of Strategic Management | p. 2 |
What Is Strategic Management? | p. 5 |
Defining Strategic Management | p. 5 |
Stages of Strategic Management | p. 5 |
Integrating Intuition and Analysis | p. 7 |
Adapting to Change | p. 8 |
Key Terms in Strategic Management | p. 8 |
Competitive Advantage | p. 8 |
Strategists | p. 10 |
Vision and Mission Statements | p. 11 |
External Opportunities and Threats | p. 12 |
Internal Strengths and Weaknesses | p. 12 |
Long-Term Objectives | p. 13 |
Strategies | p. 13 |
Annual Objectives | p. 13 |
Policies | p. 13 |
The Strategic-Management Model | p. 15 |
Benefits of Strategic Management | p. 16 |
Financial Benefits | p. 17 |
Nonfinancial Benefits | p. 18 |
Why Some Firms Do No Strategic Planning | p. 18 |
Pitfalls in Strategic Planning | p. 19 |
Guidelines for Effective Strategic Management | p. 20 |
Business Ethics and Strategic Management | p. 21 |
Comparing Business and Military Strategy | p. 26 |
The Nature of Global Competition | p. 28 |
Advantages and Disadvantages of International Operations | p. 28 |
Cohesion Case: Google Inc.-2005 | p. 34 |
Experiential Exercises | p. 50 |
Google (GOOG) | p. 50 |
Developing a Code of Business Ethics for Google (GOOG) | p. 50 |
The Ethics of Spying on Competitors | p. 51 |
Strategic Planning for My University | p. 52 |
Strategic Planning at a Local Company | p. 52 |
Does My University Recruit in Foreign Countries? | p. 53 |
Getting Familiar with SMCO | p. 53 |
Strategy Formulation | p. 54 |
The Business Vision and Mission | p. 54 |
What Do We Want to Become? | p. 56 |
What Is Our Business? | p. 59 |
Vision Versus Mission | p. 60 |
The Process of Developing a Mission Statement | p. 61 |
Importance of Vision and Mission Statements | p. 61 |
A Resolution of Divergent Views | p. 62 |
Characteristics of a Mission Statement | p. 64 |
A Declaration of Attitude | p. 64 |
A Customer Orientation | p. 66 |
A Declaration of Social Policy | p. 68 |
Mission Statement Components | p. 70 |
Writing and Evaluating Mission Statements | p. 70 |
Experiential Exercises | p. 77 |
Evaluating Mission Statements | p. 77 |
Writing a Vision and Mission Statement for Google (GOOG) | p. 78 |
Writing a Vision and Mission Statement for My University | p. 78 |
Conducting Mission Statement Research | p. 79 |
The External Assessment | p. 80 |
The Nature of an External Audit | p. 82 |
Key External Forces | p. 83 |
The Process of Performing an External Audit | p. 83 |
The Industrial Organization (I/O) View | p. 84 |
Economic Forces | p. 85 |
Russia's Economy | p. 87 |
Social, Cultural, Demographic, and Environmental Forces | p. 87 |
The U.S.-Mexico Border | p. 89 |
Political, Governmental, and Legal Forces | p. 90 |
Technological Forces | p. 93 |
Competitive Forces | p. 94 |
Competitive Intelligence Programs | p. 96 |
Cooperation Among Competitors | p. 98 |
Market Commonality and Resource Similarity | p. 99 |
Competitive Analysis: Porter's Five-Forces Model | p. 100 |
Rivalry Among Competing Firms | p. 101 |
Potential Entry of New Competitors | p. 102 |
Potential Development of Substitute Products | p. 103 |
Bargaining Power of Suppliers | p. 103 |
Bargaining Power of Consumers | p. 103 |
Sources of External Information | p. 104 |
Forecasting Tools and Techniques | p. 104 |
Making Assumptions | p. 105 |
The Global Challenge | p. 106 |
Multinational Corporations | p. 106 |
Globalization | p. 107 |
China: Opportunities and Threats | p. 108 |
Industry Analysis: The External Factor Evaluation (EFE) Matrix | p. 110 |
The Competitive Profile Matrix (CPM) | p. 111 |
Experiential Exercises | p. 117 |
Developing an EFE Matrix for Google (GOOG) | p. 117 |
The External Assessment | p. 117 |
Developing an EFE Matrix for My University | p. 117 |
Developing a Competitive Profile Matrix for Google (GOOG) | p. 118 |
Developing a Competitive Profile Matrix for My University | p. 118 |
The Internal Assessment | p. 120 |
The Nature of an Internal Audit | p. 122 |
Key Internal Forces | p. 123 |
The Process of Performing an Internal Audit | p. 123 |
The Resource-Based View (RBV) | p. 125 |
Integrating Strategy and Culture | p. 126 |
U.S. Versus Foreign Cultures | p. 128 |
Management | p. 131 |
Planning | p. 131 |
Organizing | p. 133 |
Motivating | p. 134 |
Staffing | p. 135 |
Controlling | p. 135 |
Management Audit Checklist of Questions | p. 136 |
Marketing | p. 136 |
Customer Analysis | p. 136 |
Selling Products/Services | p. 137 |
Product and Service Planning | p. 137 |
Pricing | p. 138 |
Distribution | p. 138 |
Marketing Research | p. 139 |
Opportunity Analysis | p. 139 |
Marketing Audit Checklist of Questions | p. 139 |
Finance/Accounting | p. 140 |
Finance/Accounting Functions | p. 141 |
Basic Types of Financial Ratios | p. 142 |
Finance/Accounting Audit Checklist | p. 147 |
Production/Operations | p. 147 |
Production/Operations Audit Checklist | p. 149 |
Research and Development | p. 149 |
Internal and External R&D | p. 151 |
Research and Development Audit | p. 152 |
Management Information Systems | p. 152 |
Strategic-Planning Software | p. 153 |
Management Information Systems Audit | p. 154 |
Value Chain Analysis (VCA) | p. 154 |
Benchmarking | p. 157 |
The Internal Factor Evaluation (IFE) Matrix | p. 157 |
Experiential Exercises | p. 164 |
Performing a Financial Ratio Analysis for Google (GOOG) | p. 164 |
Constructing an IFE Matrix for Google (GOOG) | p. 164 |
Constructing an IFE Matrix for My University | p. 164 |
Strategies in Action | p. 166 |
Long-Term Objectives | p. 168 |
The Nature of Long-Term Objectives | p. 168 |
Financial Versus Strategic Objectives | p. 169 |
Not Managing by Objectives | p. 170 |
The Balanced Scorecard | p. 170 |
Types of Strategies | p. 171 |
Levels of Strategies | p. 172 |
Integration Strategies | p. 174 |
Forward Integration | p. 174 |
Backward Integration | p. 175 |
Horizontal Integration | p. 176 |
Intensive Strategies | p. 177 |
Market Penetration | p. 177 |
Market Development | p. 178 |
Product Development | p. 179 |
Diversification Strategies | p. 180 |
Related Diversification | p. 181 |
Unrelated Diversification | p. 182 |
Defensive Strategies | p. 184 |
Retrenchment | p. 184 |
Divestiture | p. 186 |
Liquidation | p. 186 |
Michael Porter's Five Generic Strategies | p. 188 |
Cost Leadership Strategies (Type 1 and Type 2) | p. 189 |
Differentiation Strategies (Type 3) | p. 191 |
Focus Strategies (Type 4 and Type 5) | p. 192 |
Strategies for Competing in Turbulent, High-Velocity Markets | p. 193 |
Means for Achieving Strategies | p. 193 |
Joint Venture/Partnering | p. 193 |
Joint Ventures in Russia | p. 196 |
Merger/Acquisition | p. 197 |
First Mover Advantages | p. 200 |
Outsourcing | p. 201 |
Strategic Management in Nonprofit and Governmental Organizations | p. 203 |
Educational Institutions | p. 203 |
Medical Organizations | p. 203 |
Governmental Agencies and Departments | p. 204 |
Strategic Management in Small Firms | p. 205 |
Experiential Exercises | p. 210 |
What Strategies Should Google Pursue in 2006-2007? | p. 210 |
Examining Strategy Articles | p. 210 |
Classifying Some Year 2005 Strategies | p. 211 |
How Risky Are Various Alternative Strategies? | p. 211 |
Developing Alternative Strategies for My University | p. 212 |
Lessons in Globally Doing Business | p. 213 |
Strategy Analysis and Choice | p. 214 |
The Nature of Strategy Analysis and Choice | p. 216 |
The Process of Generating and Selecting Strategies | p. 218 |
A Comprehensive Strategy-Formulation Framework | p. 218 |
The Input Stage | p. 219 |
The Matching Stage | p. 220 |
The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix | p. 221 |
The Strategic Position and Action Evaluation (SPACE) Matrix | p. 225 |
The Boston Consulting Group (BCG) Matrix | p. 227 |
The Internal-External (IE) Matrix | p. 233 |
The Grand Strategy Matrix | p. 237 |
The Decision Stage | p. 239 |
The Quantitative Strategic Planning Matrix (QSPM) | p. 239 |
Positive Features and Limitations of the QSPM | p. 244 |
Cultural Aspects of Strategy Choice | p. 244 |
The Politics of Strategy Choice | p. 245 |
Governance Issues | p. 246 |
Experiential Exercises | p. 254 |
Developing a SWOT Matrix for Google | p. 254 |
Developing a SPACE Matrix for Google | p. 254 |
Developing a BCG Matrix for Google | p. 254 |
Developing a QSPM for Google | p. 255 |
Formulating Individual Strategies | p. 255 |
The Mach Test | p. 256 |
Developing a BCG Matrix for My University | p. 258 |
The Role of Boards of Directors | p. 258 |
Locating Companies in a Grand Strategy Matrix | p. 259 |
Strategy Implementation | p. 260 |
Implementing Strategies: Management and Operations Issues | p. 260 |
The Nature of Strategy Implementation | p. 262 |
Management Perspectives | p. 263 |
Annual Objectives | p. 264 |
Policies | p. 266 |
Resource Allocation | p. 268 |
Managing Conflict | p. 269 |
Matching Structure with Strategy | p. 270 |
The Functional Structure | p. 271 |
The Divisional Structure | p. 272 |
The Strategic Business Unit (SBU) Structure | p. 274 |
The Matrix Structure | p. 275 |
Some Do's and Don'ts in Developing Organizational Charts | p. 277 |
Restructuring, Reengineering, and E-Engineering | p. 278 |
Restructuring | p. 279 |
Reengineering | p. 280 |
Linking Performance and Pay to Strategies | p. 281 |
Managing Resistance to Change | p. 283 |
Managing the Natural Environment | p. 285 |
Creating a Strategy-Supportive Culture | p. 287 |
The Mexican Culture | p. 288 |
The Russian Culture | p. 289 |
The Japanese Culture | p. 290 |
Production/Operations Concerns When Implementing Strategies | p. 291 |
Human Resource Concerns When Implementing Strategies | p. 293 |
Employee Stock Ownership Plans (ESOPs) | p. 294 |
Balancing Work Life and Home Life | p. 295 |
Benefits of a Diverse Workforce | p. 297 |
Experiential Exercises | p. 302 |
Revising Google's Organizational Chart | p. 302 |
Do Organizations Really Establish Objectives? | p. 302 |
Understanding My University's Culture | p. 302 |
Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues | p. 304 |
The Nature of Strategy Implementation | p. 306 |
Marketing Issues | p. 306 |
Market Segmentation | p. 307 |
Does the Internet Make Market Segmentation Easier? | p. 310 |
Product Positioning | p. 310 |
Finance/Accounting Issues | p. 312 |
Acquiring Capital to Implement Strategies | p. 313 |
Projected Financial Statements | p. 318 |
Financial Budgets | p. 320 |
Evaluating the Worth of a Business | p. 322 |
Deciding Whether to Go Public | p. 324 |
Research and Development (R&D) Issues | p. 325 |
Management Information Systems (MIS) Issues | p. 327 |
Experiential Exercises | p. 332 |
Developing a Product-Positioning Map for Google | p. 332 |
Performing an EPS/EBIT Analysis for Google | p. 332 |
Preparing Projected Financial Statements for Google | p. 332 |
Determining the Cash Value of Google | p. 333 |
Developing a Product-Positioning Map for My University | p. 333 |
Do Banks Require Projected Financial Statements? | p. 333 |
Strategy Evaluation | p. 334 |
Strategy Review, Evaluation, and Control | p. 334 |
The Nature of Strategy Evaluation | p. 336 |
The Process of Evaluating Strategies | p. 339 |
A Strategy-Evaluation Framework | p. 340 |
Reviewing Bases of Strategy | p. 340 |
Measuring Organizational Performance | p. 342 |
Taking Corrective Actions | p. 344 |
The Balanced Scorecard | p. 346 |
Published Sources of Strategy-Evaluation Information | p. 346 |
Characteristics of an Effective Evaluation System | p. 348 |
Contingency Planning | p. 349 |
Auditing | p. 351 |
The Environmental Audit | p. 352 |
Twenty-First-Century Challenges in Strategic Management | p. 353 |
The Art or Science Issue | p. 353 |
The Visible or Hidden Issue | p. 354 |
The Top-Down or Bottom-Up Approach | p. 354 |
Experiential Exercises | p. 358 |
Preparing a Strategy-Evaluation Report for Google | p. 358 |
Evaluating My University's Strategies | p. 358 |
Who Prepares an Environmental Audit? | p. 358 |
Strategic Management Case Analysis | p. 360 |
How to Prepare and Present a Case Analysis | p. 360 |
What Is a Strategic-Management Case? | p. 362 |
Guidelines for Preparing Case Analyses | p. 362 |
The Need for Practicality | p. 362 |
The Need for Justification | p. 362 |
The Need for Realism | p. 362 |
The Need for Specificity | p. 363 |
The Need for Originality | p. 363 |
The Need to Contribute | p. 363 |
Preparing a Case for Class Discussion | p. 363 |
The Case Method Versus Lecture Approach | p. 364 |
The Cross-Examination | p. 364 |
Preparing a Written Case Analysis | p. 364 |
The Executive Summary | p. 365 |
The Comprehensive Written Analysis | p. 365 |
Steps in Preparing a Written Case Analysis | p. 365 |
Making an Oral Presentation | p. 366 |
Organizing the Presentation | p. 366 |
Controlling Your Voice | p. 366 |
Managing Body Language | p. 367 |
Speaking from Notes | p. 367 |
Constructing Visual Aids | p. 367 |
Answering Questions | p. 367 |
Tips for Success in Case Analysis | p. 368 |
Content Tips | p. 368 |
Process Tips | p. 369 |
Sample Case Analysis Outline | p. 370 |
Steps in Presenting an Oral Case Analysis | p. 371 |
1. Introduction (2 minutes) | p. 371 |
2. Mission/Vision (4 minutes) | p. 371 |
3. Internal Assessment (8 minutes) | p. 371 |
4. External Assessment (8 minutes) | p. 371 |
5. Strategy Formulation (14 minutes) | p. 372 |
6. Strategy Implementation (8 minutes) | p. 372 |
7. Strategy Evaluation (2 minutes) | p. 373 |
8. Conclusion (4 minutes) | p. 373 |
Index | p. 374 |
Table of Contents provided by Ingram. All Rights Reserved. |
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.